Labcorp Unveils New Name for Future Independent Clinical Development Business - Fortrea

Fortrea Will Become a Leading, Pure-play CRO Focused on Driving Innovation and Improving Patient Outcomes WorldwideSpin-off Remains on Track to Be Completed in Mid-2023BURLINGTON, N.C.--(BUSINESS WIRE)--Feb. 9, 2023-- Labcorp (NYSE: LH), a leading global life sciences company, today announced that the new company to be formed by the planned spin-off of its Clinical Development business will be known as Fortrea. Upon completion of the spin-off from Labcorp, Fortrea will operate as an independent, publicly traded global CRO that offers comprehensive drug and medical device development services. With over 19,000 people, Fortrea will provide Phase I through IV clinical trial management and commercialization solutions to pharmaceutical and biotechnology organizations around the world.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208006050/en/Fortrea will make life-changing innovation possible by combining decades of experienc...